Commentary and analysis on markets, personal finance, and wealth building from a contrarian perspective. "I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting there and trying to dream it up all yourself. Nobody’s that smart."
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Sunday, October 16, 2016

Alterra Power moving into solar

Alterra Power Corp. (TSX: AXY) and Inovateus Solar
LLC are pleased to announce the closing of a $8.9 million construction
loan facility (all amounts USD) for the Kokomo solar project, an
approximately 7 MWsolar project located in Kokomo, Indiana.

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The Kokomo solar project is currently under
construction in Kokomo, Indiana and is expected to begin commercial
operations inDecember 2016. The Project is contracted under a 20-year power
purchase agreement with Duke Energy Indiana for 100% of plant output.
Construction is being managed by Inovateus, who will also provide operations
and maintenance services under a long-term contract. Alterra will
manage and administer the Project. The Kokomo solar project will
provide 7 MWDC of clean power capacity and economic benefit to
the Indiana community and is located on a remediated Superfund parcel
of city-owned land.

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Alterra and Inovateus are actively developing a second
solar project, a 13 MWDC site located in Michigan, which
is expected to enter construction in 2017. The Michigan solar project
is contracted under a 25-year, investment-grade power purchase agreement.

Alterra Power is run by the very capable Ross Beatty who created billions in shareholder wealth via Pan American Silver and Lumina Copper among other projects. It is good to see Alterra is now paying a dividend and continues to grow its portfolio. I expect Mr. Beatty will be successful in creating shareholder wealth here also.